Andra AP fonden Cuts Stock Position in The Progressive Corporation $PGR

Andra AP fonden lowered its position in The Progressive Corporation (NYSE:PGR) by 77.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,033 shares of the insurance provider’s stock after selling 52,367 shares during the quarter. Andra AP fonden’s holdings in Progressive were worth $2,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of PGR. Bogart Wealth LLC lifted its holdings in shares of Progressive by 235.1% in the 1st quarter. Bogart Wealth LLC now owns 124 shares of the insurance provider’s stock worth $25,000 after acquiring an additional 87 shares during the last quarter. Bard Associates Inc. purchased a new stake in Progressive during the 4th quarter valued at about $27,000. HHM Wealth Advisors LLC grew its position in Progressive by 700.0% during the 1st quarter. HHM Wealth Advisors LLC now owns 144 shares of the insurance provider’s stock worth $29,000 after acquiring an additional 126 shares during the last quarter. IFC & Insurance Marketing Inc. purchased a new position in Progressive in the 4th quarter worth approximately $29,000. Finally, Entrust Financial LLC purchased a new position in shares of Progressive in the fourth quarter worth $33,000. 85.34% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PGR shares. Wells Fargo & Company cut their price target on shares of Progressive from $205.00 to $198.00 and set an “underweight” rating on the stock in a report on Thursday, July 16th. Weiss Ratings lowered shares of Progressive from a “hold (c+)” rating to a “hold (c)” rating in a report on Wednesday, May 6th. Keefe, Bruyette & Woods reduced their price target on shares of Progressive from $231.00 to $226.00 and set a “market perform” rating on the stock in a research report on Thursday, July 16th. William Blair reissued a “market perform” rating on shares of Progressive in a research note on Wednesday, July 15th. Finally, Bank of America cut their price objective on Progressive from $313.00 to $308.00 and set a “buy” rating on the stock in a research report on Thursday, July 16th. Five analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Progressive currently has a consensus rating of “Hold” and a consensus price target of $235.05.

Progressive Stock Performance

PGR stock opened at $204.57 on Thursday. The stock’s 50 day simple moving average is $209.39 and its 200 day simple moving average is $205.90. The company has a current ratio of 0.32, a quick ratio of 0.27 and a debt-to-equity ratio of 0.24. The Progressive Corporation has a 12-month low of $189.20 and a 12-month high of $254.93. The stock has a market capitalization of $119.54 billion, a PE ratio of 10.26, a price-to-earnings-growth ratio of 2.77 and a beta of 0.26.

Progressive Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Thursday, July 2nd were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $0.40 annualized dividend and a dividend yield of 0.2%. Progressive’s dividend payout ratio (DPR) is 2.01%.

Key Progressive News

Here are the key news stories impacting Progressive this week:

• Positive Sentiment: Progressive announced a strategic collaboration with Winnebago to bundle RV insurance solutions with Winnebago’s vehicles, which could strengthen customer acquisition, expand its RV insurance business, and support cross-selling opportunities. Article Title
• Positive Sentiment: The company also secured a jersey sponsorship with Cleveland’s future WNBA team, giving Progressive another brand-visibility win and reinforcing its marketing reach. Article Title
• Neutral Sentiment: Research firm DOWLING & PARTN lowered its FY2028 EPS estimate for Progressive to $15.88, below the current consensus of $17.55, which may reinforce investor caution around future earnings growth. Article Title
• Neutral Sentiment: Some broader market commentary continues to note that Progressive’s EPS growth may not be fully reflected in the share price, suggesting investors still see upside potential but are waiting for more proof. Article Title
• Negative Sentiment: Compared with peers, Travelers’ strong earnings-driven rally may be drawing attention to underwriting execution in the property-casualty sector, which could make investors more selective on Progressive until it shows similarly strong results. Article Title

Insider Buying and Selling at Progressive

In other news, insider Steven Broz sold 1,157 shares of Progressive stock in a transaction that occurred on Monday, June 22nd. The shares were sold at an average price of $204.76, for a total value of $236,907.32. Following the completion of the sale, the insider directly owned 27,511 shares in the company, valued at $5,633,152.36. The trade was a 4.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider John Jo Murphy sold 5,916 shares of the business’s stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $200.00, for a total transaction of $1,183,200.00. Following the transaction, the insider directly owned 41,290 shares of the company’s stock, valued at $8,258,000. The trade was a 12.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 15,230 shares of company stock worth $3,165,817. Company insiders own 0.32% of the company’s stock.

About Progressive

Progressive Corporation is a large U.S.-based property and casualty insurer that primarily underwrites personal auto insurance along with a broad suite of related products. Its offerings include coverage for private passenger automobiles, commercial auto fleets, motorcycles, boats and recreational vehicles, as well as homeowners, renters, umbrella and other specialty P&C products. Progressive also provides claims handling, risk management and related services to individual and commercial policyholders.

The company distributes its products through a mix of direct channels—online and by phone—and an extensive independent agent network.